PRESS DIGEST- Wall Street Journal - May 16

Fri May 16, 2014 1:53am EDT

May 16 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

* Five years after the financial crisis ended, soft growth in Europe, a stop-and-start U.S. recovery and waning momentum in China have policy makers groping for what to do next. (r.reuters.com/byf49v)

* In a move that has sharply divided technology giants over how to keep the Internet open, the FCC voted Thursday to advance rules that would let broadband providers charge companies for preferential handling of web traffic. (r.reuters.com/zef49v)

* Billionaire investors Warren Buffett, Daniel Loeb and John Paulson made a connection on Verizon Communications, as their firms separately picked up stakes in the telecommunications firm amid a wave of deal-making in the sector. (r.reuters.com/duf49v)

* Pinterest said it raised a $200 million investment that values it at $5 billion, making it one of the most valuable venture-capital backed startups in the world. (r.reuters.com/guf49v)

* General Motors recalled another 2.7 million vehicles to fix a variety of defects, and said it will take a $200 million charge against second-quarter earnings to cover the repair costs. (r.reuters.com/huf49v)

* Credit Suisse has tentatively agreed to pay almost $2.5 billion to the Justice Department and banking regulators and is expected to plead guilty to criminal charges to settle a probe into how the firm allegedly helped Americans evade taxes. The deal, which would mark an escalation in the U.S. crackdown on financial firms, could be announced early next week. (r.reuters.com/juf49v)

* Credit raters are split over a new type of bond-and proud of it. In a recent, and rare, bout of partisanship, ratings firms are taking sides on whether a new type of bond represents a safe bet or a slightly risky one. The discord, the firms say, shows that the industry is responding to critics who have said that raters in the past have too often spoken in unison and lacked a diversity of opinions. (r.reuters.com/puf49v)

* Blackstone Group, the world's largest private-equity firm on Thursday agreed to pay $1.7 billion in cash to Deutsche Bank AG for the Cosmopolitan of Las Vegas, a 3,000-room hotel and casino on the Strip that ran into big financial trouble during the downturn. (r.reuters.com/ruf49v) (Compiled by Supriya Kurane in Bangalore)

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